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Service Industries Q3 profit climbs 16.7% YOY

Service Industries Ltd said its third-quarter normalized net income amounted to 14.68 Pakistani rupees per share, an increase of 16.7% from 12.58 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 176.5 million rupees, an increase of 16.7% from 151.3 million rupees in the year-earlier period.

The normalized profit margin increased to 3.8% from 3.8% in the year-earlier period.

Total revenue rose 14.7% year over year to 4.61 billion rupees from 4.02 billion rupees, and total operating expenses grew 15.6% on an annual basis to 4.28 billion rupees from 3.70 billion rupees.

Reported net income grew 33.3% year over year to 251.4 million rupees, or 20.90 rupees per share, from 188.6 million rupees, or 15.68 rupees per share.

As of Oct. 28, US$1 was equivalent to 104.77 Pakistani rupees.